Hdfc-hdfc bank merger: Parekh said that the cross-selling of assets and liabilities of HDFC's home loan business will be done 'seamlessly' through their digital platforms.
“It is my time to hang my boots with both anticipation and hope for the future," Parekh wrote to HDFC shareholders for the last time as chairman. "While this will be my last communication to shareholders of HDFC, rest assured we now stride tall into a very exciting future of growth and prosperity."
The merged entity will be India s second most valued company after Reliance Industries, which had a $210 billion market cap on Friday. Global index services provider FTSE will replace HDFC in its indices with HDFC Bank after closure of the merger. The bank is not part of the index currently. There will be no change in weight and the move will not result in any fresh inflow now.